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1409 Magnolia Avenue
Long Beach, CA 90813
Great Cash-Flow Deal! Located just outside of booming Downtown Long Beach, 1409 Magnolia Ave is a well-maintained 6 unit building with a high yielding unit mix of (3) 3Bed/1Bath, (2) 2Bed/1Bath, and (1) 1Bed/1Bath units. The property currently grosses $13,756/month and operates at a 7.30% CAP and 10.00 GRM. 1409 Magnolia Ave is the ideal investment for investor looking for day 1 cash-flow with significant upside in rental income. The subject property is located just outside the $6 Billion of development flooding into Downtown LB, including the Long Beach Civic Center, Long Beach Aquarium, OceanAire Project, CSULB Project, CSULB Downtown Village, Broadway Block, the Pacific and Queen Mary Island.
PROPERTY INFORMATION
| MLS # | SB24072243 | Lot Size | 4,592 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 1,650,000
Price Per SqFt: $ 413 |
DOM | 373 Days |
| Address | 1409 Magnolia Avenue | Type | Residential Income |
| City | Long Beach | Sq.Ft. | 3,992 Sq. Ft. |
| Postal Code | 90813 | Garage | 4 |
| County | Los Angeles | Year Built | 1925 |
| Bed / Bath | 14 / 0 | Parking | 4 |
| Built In | 1925 | Status | Active |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| EntryLocation | Front |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,760
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 08/15/2024 | Relisted | $1,700,000 |
| 04/30/2024 | Listed | $1,700,000 |
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Listing provided courtesy of Cameron Samimi, Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
